In last trading session, Rent the Runway Inc (NASDAQ:RENT) saw 0.46 million shares changing hands with its beta currently measuring 1.04. Company’s recent per share price level of $0.59 trading at $0.05 or 7.64% at ring of the bell on the day assigns it a market valuation of $40.14M. That closing price of RENT’s stock is at a discount of -716.95% from its 52-week high price of $4.82 and is indicating a premium of 27.12% from its 52-week low price of $0.43. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.53 million shares which gives us an average trading volume of 775.47K if we extend that period to 3-months.
For Rent the Runway Inc (RENT), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 1.90. Splitting up the data highlights that, out of 10 analysts covering the stock, 0 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 4 suggested the stock as a Hold whereas 5 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.44 in the current quarter.
Rent the Runway Inc (NASDAQ:RENT) trade information
Upright in the green during last session for gaining 7.64%, in the last five days RENT remained trading in the green while hitting it’s week-highest on Wednesday, 11/15/23 when the stock touched $0.59 price level, adding 9.91% to its value on the day. Rent the Runway Inc’s shares saw a change of -80.77% in year-to-date performance and have moved 17.28% in past 5-day. Rent the Runway Inc (NASDAQ:RENT) showed a performance of -4.26% in past 30-days. Number of shares sold short was 6.92 million shares which calculate 14.65 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $2.94 to the stock, which implies a rise of 79.93% to its current value. Analysts have been projecting $1.00 as a low price target for the stock while placing it at a high target of $5.00. It follows that stock’s current price would drop -747.46% in reaching the projected high whereas dropping to the targeted low would mean a loss of -69.49% for stock’s current value.
Rent the Runway Inc (RENT) estimates and forecasts
Statistics highlight that Rent the Runway Inc is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -76.26% of value to its shares in past 6 months, showing an annual growth rate of 19.81% while that of industry is -8.00. Apart from that, the company came raising its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to increase by 21.40% in the current quarter and calculating 10.00% increase in the next quarter. This year revenue growth is estimated to rise 0.10% from the last financial year’s standing.
8 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $73.07 million for the same. And 8 analysts are in estimates of company making revenue of $73.57 million in the next quarter that will end on Jan 2024.
Rent the Runway Inc is more likely to be releasing its next quarterly report between December 07 and December 11 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Rent the Runway Inc (NASDAQ:RENT)’s Major holders
Insiders are in possession of 8.15% of company’s total shares while institution are holding 78.05 percent of that, with stock having share float percentage of 84.98%. Investors also watch the number of corporate investors in a company very closely, which is 78.05% institutions for Rent the Runway Inc that are currently holding shares of the company. Bain Capital Venture Investors, LLC is the top institutional holder at RENT for having 8.18 million shares of worth $16.19 million. And as of Jun 29, 2023, it was holding 12.42% of the company’s outstanding shares.
The second largest institutional holder is Divisar Capital Management LLC, which was holding about 4.63 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 7.04% of outstanding shares, having a total worth of $9.17 million.
On the other hand, Price (T.Rowe) Small-Cap Value Fund and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 2.98 million shares of worth $5.9 million or 4.52% of the total outstanding shares. The later fund manager was in possession of 1.62 million shares on Jun 29, 2023, making its stake of worth around $3.2 million in the company or a holder of 2.46% of company’s stock.